Panaria Group reports growth in 2004

Feb 21, 2005

21/02/05 - Panaria Group has announced a good performance in 2004.
Following the strong results achieved with stock market listing last November, which saw a 1.4% oversubscription, the Group led by the Mussini family closed the year with an 11% increase in net turnover: 230.4 million euro against 207.3 million euro in 2003.
The increase was due to a growth in volume (6%) and an increase in average selling prices (5%).

The Group’s profitability indexes have also performed well, with EBITDA up by 7.5% (40.7 million euro) to 17% of the value of production.
EBIT has reached 25.6 million euro, a small increase (+0.6%) on the 25.5 million euro of 2003.

Exports have risen by 15.7% to 134.9 million euro (compared to 116 million euro in 2003). The fastest growing markets include the United States (up 14.6% to 20.2 million euro), France (up 9.5% to 17.8 million euro) and Belgium (up 22.9% to 16.2 million euro).

The domestic market registered a turnover of 100.6 million euro, 5.6% up on the 95.3 million euro of 2003.